Related Party Transactions (Notes)

6 Months Ended

Sep. 30, 2013

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

RELATED PARTY TRANSACTIONS

Robert M. Caruso, our President and Chief Executive Officer, and Ed Mosley, our Vice President and Chief Restructuring Officer are employed by Alvarez & Marsal North America, LLC (“Alvarez & Marsal” or “A&M”) as Managing Director and Senior Director, respectively. Alvarez & Marsal has been retained by the Company in connection with our Chapter 11 restructuring. Mr. Caruso, who has been associated with Alvarez & Marsal since 2006, remains a Managing Director of Alvarez & Marsal while serving as our President and Chief Executive Officer. Mr. Mosley has been with Alvarez & Marsal since 2008, and remains a Senior Director of Alvarez & Marsal while serving as our Chief Restructuring Officer. In addition, Mr. Caruso holds a minority equity interest in Alvarez & Marsal’s parent company which indirectly entitles him to a share of Alvarez & Marsal’s profits.

Pursuant to an Agreement dated June 9, 2013, as amended by a Letter Agreement dated July 25, 2013 between the Company and Alvarez & Marsal (the “Services Agreement”), we have retained Alvarez & Marsal in connection with our Chapter 11 restructuring. Under the Services Agreement, the Company is charged monthly fees for the services of Mr. Caruso and Mr. Mosley and hourly fees for the services of other temporary personnel of Alvarez & Marsal and its affiliates who are providing services to the Company (in an officer capacity or otherwise) and such temporary personnel (including Mr. Caruso and Mr. Mosley) are compensated by Alvarez & Marsal independently pursuant to their arrangements with Alvarez & Marsal. The Services Agreement also provides for payment of a one-time success fee to Alvarez & Marsal as a result of our emergence from Chapter 11. The amount of the success fee could be up to $1.75 million, at the discretion of the Board of Directors and subject to approval by the U.S. Bankruptcy Court. Fees and expenses we incurred under the Services Agreement amounted to $7.8 million for the three months ended September 30, 2013 and $11.5 million for the six months endedSeptember 30, 2013.

We understand from Mr. Caruso and Mr. Mosley that they do not and will not, as applicable, directly receive a portion of the fees paid by the Company to Alvarez & Marsal in respect of their hourly fees, the overall fee, the success fee or any other fees relating to any other aspect of the Company’s engagement of Alvarez & Marsal. However, Mr. Caruso and Mr. Mosley may be entitled to discretionary bonuses at the end of each A&M fiscal year which may, similar to other professional services firms, take into account revenues and expenses related to matters on which they have worked or managed. A&M has disclosed that the ultimate amount of Messrs. Caruso’s and Mosley’s compensation, which has not yet been determined, will depend on a number of factors related to, among other things, their performance as employees, their contribution to the revenue generating activities (including but not limited to the engagement for the Company) and A&M’s overall financial results.